Tag Archives: homeowner’s insurance

Insured Responsible for Paying Deductible when Insurer Elects Right to Repair

There are property (homeowner) insurance policies that contain right to repair clauses.  These right to repair clauses give the insurer the option to repair the loss with its preferred contractor.  Some insurers even have a captive restoration contractor that serves … Continue reading

Posted in Uncategorized | Tagged , , , , | Comments Off on Insured Responsible for Paying Deductible when Insurer Elects Right to Repair

Marring Exclusion in Homeowner’s Property Insurance Policies

The marring exclusion in a homeowners property insurance policy strikes again.   The marring exclusion?!? Homeowner’s property insurance policies oftentimes contain an exclusion for damage or loss caused by “wear and tear, marring, deterioration….” As it pertains to the exclusionary word … Continue reading

Posted in Property Insurance | Tagged , , , | Comments Off on Marring Exclusion in Homeowner’s Property Insurance Policies

Replacement Cost Property Insurance Policies

Many homeowner property insurance policies (and property insurance policies in general) are replacement cost policies. This means the policy covers loss to property without factoring in the depreciation of that property. It is important to understand that just because the … Continue reading

Posted in Property Insurance | Tagged , , , | Comments Off on Replacement Cost Property Insurance Policies

An Insurer Pursuing Subrogation in a Third-Party Lawsuit

I previously discussed the concept of an insurer’s subrogation rights. Oftentimes, this is referred to as equitable subrogation. An insurer, however, does not have to necessarily wait until it pays insurance proceeds to pursue subrogation rights. If an insurer is … Continue reading

Posted in Property Insurance, subrogation | Tagged , , , , | Comments Off on An Insurer Pursuing Subrogation in a Third-Party Lawsuit